Purchases or Refinances: Here's What You Need to Know


Qualified Property

One- to two-family residential owner-occupied purchase money or refinances.

Max Loan to Value

• Single family – 95% of sale price
• Two-family – 85% of sale price

• Single family – up to 80% of appraised value as "Cash Out"
• Two-family – up to 75% of appraised value as "Cash Out"
• Single family – 90% of appraised value for "Limited Cash Out"
• Two-family – 85% of appraised value for "Limited Cash Out"

Loan Amount

Minimum – $35,000
Maximum – $726,200; $1,089,300 for high cost areas as designated by Fannie Mae*

*Jumbo loan amounts available to well-qualified borrowers. The interest rate is 0.25% higher than advertised rate


15 Years

Escrow Account 

Required when loan-to-value ratio is 80.01% or higher.
If less than 80% loan-to-value ratio, is based on credit worthiness.
PMI required when loan to value ratio is 80.01% or higher.

Payment Options 

Bi-weekly or Monthly

Interest Rate Change Rate remains the same for the life of the loan

Proof of home owner's insurance is required.

Visions will not subordinate or agree to the assignment of any oil/gas/mineral rights lease to a third party.

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